Alibaba Group Holding Limited BABA co-founder Jack Ma was spotted in Hong Kong for a series of meetings with tech and finance executives.

What Happened: Billionaire Ma, who maintained a low profile since China's regulatory crackdown, has been meeting prominent business figures in the city, the Hong Kong Economic Times reported, citing anonymous sources.

A person familiar with the matter told the publication that Ma came to Hong Kong a few days ago but his exact agenda remains unclear.

The tech billionaire has maintained a low profile after Xi Jinping's administration, in 2020, singled out Ant Group's $37 billion IPO, which set off a broad regulatory crackdown on Chinese tech groups, including billions in fines and regulatory overhauls for Alibaba.

However, since late 2022, Ma has gradually resumed globe-trotting. In late November, he was spotted in Tokyo before making his way to Thailand. Before that, Ma also visited the U.S. and Israel, according to the Financial Times.

Earlier this month, the e-commerce billionaire relinquished controlling rights of fintech giant Ant Group.